Dismal Jobs Report Puts Pressure on Fed
The unemployment rate jumped to an even 5 percent in December, from 4.7 percent the month before. The Labor Department said business payrolls expanded by a weaker-than-expected 18,000.
Analysts say the report increases the odds of another interest-rate cut, but the stock market was took a dive. The Dow Industrials fell more than 100 points in early morning trading.
Copyright 2022 NPR. To see more, visit https://www.npr.org.